Good News and Bad News Regarding the Fontainebleau Las Vegas High Rise Condo Hotel Project

Here's the good news regarding the Fontainebleau high rise condo project: their preview center opened last week and officials for the $2.9 billion mixed-use development say their 3,815-room project is on schedule and will be ready to open in less than a year. That's pretty good news, if you can believe it.

Here's the problem: according to an article published today in the Las Vegas Review Journal, the project officials have not made themselves available for interviews and are issuing these rosy statements via company spokespeople. That's not good. Something's up with that, I think - and that's the bad news.

After all the "branding" and the "incredible media exposure" this project is receiving, why won't Fountainbleau CEO Howard Karawan or any other high level company execs make themselves available for the tough questions that surely need to be asked regarding the feasibility of this project.

What's really interesting is that in the very same edition of the Review Journal, there's a story about how construction has stopped on Alex Edelstein's Manhattan West mixed use mid rise condo project. If you follow the Las Vegas condo market, you'll know Mr. Edelstein has made countless statements similar to the one issued by the Fountainbleau insuring people his project will be completed on schedule - but at least he did it in person.

I like the idea and the vision for Fountainbleau, especially it being designated a "Green" building, and I'm keeping my fingers crossed for more good news about this project. But from what I've seen and heard lately, I have a feeling they'll be issuing more press releases - and not in a good way.

This From our Friends at CityCenter: Vdara High Rise Condo Featured Residence

There's a studio unit with approximately 533 square feet on the 36th floor at the Vdara high rise condo at MGM's Project CityCenter which you can get for $676,000.

Got the extra money lying around doing nothing? Want to buy into a very prestigious property? Great! - Vdara at CityCenter is still top-notch long term as far as Las Vegas high rise condos go.

... But don't do it for cash flow... Don't do it for appreciation... Do it because you feel you deserve it and it won't hurt you financially. Here's the offer flyer we received on this deal

Then contact us and we'll help you make the deal.

Real Estate Agents and Mortgage Brokers: A Bad Economy Doesn't Mean You Can't Make Money Today

Readers of this blog by now know that I've been working with a private financial firm that's providing some significant recession proof type investments to their clientele. What's great about this group is that while everyone's complaining about a down economy and a lack of movement with good real estate sales and mortgage opportunities, their clients (and now mine) aren't feeling ANY kind of recessionary pinch. Why? Because of the unique investment deals they bring to the forefront.

So how does this benefit you, the mortgage broker or real estate agent that's seen their steady supply of real estate buyers and sellers dry up (especially with the Las Vegas high rise condo market)? Here's how: the company has just established an affiliate program which now allows YOU the opportunity of providing the alternative products and services they offer to your clients as well.

Trust me when I tell you this is an incredible opportunity to stay in front of your clients and suggest investment opportunities for them that'll make you look great (while you wait for the real estate market to rebound). I know - I've been showing would-be Las Vegas high rise condo purchasers who are afraid to enter this market right now some extremely attractive cash flowing (and recession-proof) investments that yield double-digit returns with a very low degree of risk in today's market. That's right - TODAY!

If you're a mortgage broker or real estate agent that deals with a high end client (such as luxury property) and are NOT making the kind of money you want to, please contact me to explore the opportunity of applying for this affiliate program.

This is NOT MLM or any other "home based" business nonsense and there is no cost whatsoeveer to get involved. This is an extremely credible way to show your high-end accredited investor clients that you stay abreast of all financial developments and are constantly looking out for their interests, no matter how poorly the traditional marketplace performs.

What's a 10 minute phone call compared to having to sit around frustrated that you're not making money because Las Vegas real estate's not moving? I'm awaiting your email (name and phone number please) or call me at 702-688-6454...

Sitting on the Sidelines? Get Double Digit Returns While You Wait for the Las Vegas High Rise Market Correction

That's right, DOUBLE DIGIT returns!

So many investors are sitting on the sidelines these days waiting for when they'll feel "safe" about making another investment in these recessionary times. Some reports estimate that figure to be almost $7 TRILLION dollars nationwide. That's a lot of cash waiting for an opportunity.

Opportunity's a-knockin': I have a situation developing right now in a cash flowing commercial real estate deal in the medical industry that's actually paying significant returns to investors right now. The opportunity is structured as a tenant-in-common (TIC) property with a $250K minimum investment.

Now most people don't just have $250,000 lying around doing nothing, but if you're currently involved in a 1031 exchange and need to identify replacement property, this deal's for you. Or if you're sitting on a nice IRA that hasn't been beaten down by the market, then this deal's for you as well. (Did you even know you can self-direct your IRA - it's easier than you think and I work with a resource that knows how to do this hassle-free).

As most real estate investors know, the TIC market has slowed considerably over the years, mainly because even a good TIC property won't generate a high cash flow return, which isn't sexy at all. However, because of a very unique and creative situation, this medical TIC is structured to do just that.

... Cash flowing commercial property in the medical industry with double digit returns in today's market?!?! Aren't you glad you read this post? ... Let me give you the details so you know this deal is for real.

Read the press release here and contact me RIGHT NOW at 702-688-6454 or by email here (name and phone number please). Because a TIC has a finite number of investors, there is urgency involved as there are LIMITED AVAILABILITIES in this project.

Make your money now so you can afford the Las Vegas high rise condo when the market heats up later!

The Las Vegas Real Estate Market: Everyone's Guessing

Did you know that Las Vegas real estate was "in the toilet", according to last month's Crystal Ball housing outlook?

"The truth as I see it today is that the real estate market in Las Vegas is in the toilet," said Larry Murphy, president of real estate research firm SalesTraq. "And the sad probability is that it will stay in the toilet a while longer."

My response to all the experts: Ever tour some of the new homes in Vegas? - They have some pretty nice bathrooms! Fast forward a few weeks and you have today's report that foreclosure filings have dropped to their lowest level since May. One day, an "expert" will tell you one thing - then the next day you'll hear another report from another "expert" saying something different.

Everybody's guessing. That's the bottom line. Analysts need something new to analyze. Publishers need something new to publish. Las Vegas high rises are good - no wait, they're bad. Invest in foreclosures - no, short sales are better deals - no, get into land... Everyone's guessing. But despite all the negative stories coming from all the media sources out there, believe it or not, buyers are still buying real estate (las vegas condos included) and sellers are still selling. Are they all idiots? Or are they just taking advantage of the market downturn and creating opportunity for themselves?

People sitting on the sidelines like to say things such as "great... a real estate agent telling me real estate is a great buy now", as they sit in their living rooms envious of their neighbor that just positive cash flowed a rental property as a result of a foreclosure deal. Marketwatch.com recently wrote an article on how investors are fleeing the market wondering what to do with their cash sitting on the sidelines.

Do you want to be a victim? Then sit there and do nothing. Remember, action creates results - YOU NEED TO TAKE SOME KIND OF ACTION IN THESE UNCERTAIN TIMES, whether it be in real estate or elsewhere!!! Finding recession proof investments is a good start for now (and they're out there - as long as you don't turn on the TV or read the newspaper).

Here's some tough love folks: Whether the Las Vegas real estate market is in the toilet or not, sitting there doing nothing just makes you part of the flush.

Think you can close on that Las Vegas High Rise Condo? Not So Fast...

It doesn't matter how rich you are these days - securing a mortagage for a Las Vegas high rise condo is getting harder and harder, even for those with no credit issues.

For example according to a report by Duestch bank, closings at Trump are now at a horrendous 21%, while Palms Place is reporting closing at a 57% clip. And why? Lenders are now asking for 50 percent down on their high rise condo deals, and that option's only available for those with excellent credit to begin with.

With interest rates on 30-year fixed on a condo-hotel going as high as 8% and above, it's becoming increasing clear that even those with the means must start looking at alternative investments for now as the credit markets continue to struggle.

Many would-be high rise condo owners are now walking away from 6-figure non-refundable deposits - and if that's their best option, something's not right. Are condo fractionals the answer? At least you can make a case for them being cash flowing investments in an uncertain Las Vegas high rise condo market.

But folks, if you're going to buy a high rise condo in Las Vegas, do it all cash, and make sure you can handle the uncertainty for the next 2 years.

Planet Hollywood Towers Offers First Las Vegas High Rise Condo Fractional Ownership Opportunity

I knew it was going to happen. I knew it 2 years ago when I bought this website domain. I just didn't know if would take this long.

Leave it to Planet Hollywood to partner with Westgate Resorts to offer the first Las Vegas high rise condo opportunity packaged as condo fractional ownership. And folks, believe me - if you've never heard of condo fractional ownership, you most certainly will in the very near future as it's the ONLY way high rise condo purchasers can buy units with the intent on cash flowing.


A high rise condo in Las Vegas positioned as a high yielding, cash flowing investment? Who would have thought? - Yet condo fractional ownership makes that extremely possible.

In fact, in today's market, I'd be shocked if the other projects in town didn't adopt a similar model. I've been saying for quite some time now that condo fractionals are the answer to the overpriced high rises you see on the strip and elsewhere. With the economy as it currently is (and your options for putting your money in profitable vehicles being at a minimum), condo fractional ownership is an idea whose time has come.

When most people think of fractional ownership, they generally think about how airplanes are purchased and used by the ultra-wealthy and the business executives of the world. Now you can take that concept to build your own wealth on the Strip with Planet Hollywood Towers leading the charge.

I have only one question: What took so long for this idea to enter the Las Vegas high rise condo marketplace? Perhaps there's a negative connotation with that ugly "timeshare" word. Well, rest easy, because let me stress that condo fractionals have nothing to do with timeshare sales, with the biggest diference being with fractional ownership, you're purchasing deeded real estate, and not a certificate you can hang next to your Who's Who nomination award from 1984.

So if you've been wondering why I haven't posted more often to my blogs, it's because I've been spending every waking moment scrutinizing this product and learning as much as I can so I can feel confident recommending condo fractional ownership to my clients. Which after countless hours of research, I believe I can in resounding fashion.

I also believe the Planet Hollywood Tower condo fractional ownership program in particular is a huge winner as well. This project gives you a chance to own a piece of the Strip without having to break the bank with premier resort luxury at prices the average family can afford - meticulously furnished and amenity filled 1,2, or 4 bedroom condo units are available in weekly increments at preconstruction prices. Again, this is deeded real estate to a piece of prime property in the heart of all that's Las Vegas. The exact same rights of regular home ownership apply in that you can use it, rent it, sell it, will it, and (as a bonus of Westgate affiliation) even exchange your condo to over 2,000 resorts in 81 countries!

Ownership opportunities are available from $24,900 and delivery is expected in late 2009. (View the construction webcam). I see no downside to this, so please contact me if you're interested, and I'll show you how to get up to a 10% discount that no one else will tell you about. (I told you I did a lot of research on this!).

Your "Hollywood" playground awaits your arrival. Definitely get in touch with me for a personalized tour and I'll show you exactly why I'm in love with this fractional ownership concept! You can also get more information by filling out the form on the top-left side of this website as well.

Good News? Boyd Gaming Reaches Agreement to Build on Stalled Echelon Project

Boyd gaming has reworked an agreement they made with Morgans Hotel Group which in effect makes it entirely possible we'll see movement with the $4.8 billion dollar development.

The deadline to obtain construction financing has now been extended through 2009 and Boyd Gaming will now return a $30 million dollar deposit plus interest. The result is Morgans having sole control over the use of all brands associated with the development.

Too bad it's not that easy for your everyday, typical, high rise condo purchasers to have their deposits refunded for the units they now longer wish to close on.

"Well, you see at the time, I thought it was a good idea to buy that high rise condo, but now that it's worth maybe half of what I bought it for, I no longer want to close, so please refund my deposit... and by the way, I'd like interest on all that money as well." Try that line out on Trump, or Allure, or MGM, or any of the other projects in town that are having a tough time converting contracts to closings.

So is this good news? Perhaps - but keep in mind this new agreement can be terminated by either company at any time before December 31st, 2009. Like with the Major League Baseball season, we may have to wait until the last minute to see how things shake out.

In the meantime, may I suggest some Las Vegas condo foreclosures? Plus there's many other options were you can put your money to use with high yield investments as well.

Is the Metropolis High Rise Condo Project in Las Vegas a Diamond in the Rough?

The Metropolis high rise condo project is quickly becoming an obsession for those in the know who are closely watching the Las Vegas high rise condo market.

Why? Because it's making a great source for investors looking for low bank owned properties. "But aren't ALL the high rise condo projects in town basically in the same boat?" you may ask.

While that may be true, the Metropolis is the only one with stunning views of Steve Wynn's golf course property, a property which - if you believe the rumors, will soon be undergoing a dramatic change, as in the golf course giving way to another AMAZING high rise condo project that'll contain perhaps the most extravagant hotel and casino in Las Vegas. If and when that happens, views and the actual location of the Metropolis will be even more priceless.

You all know how developers in Las Vegas love to outdo each other. When CityCenter was announced as perhaps the most prestigious project to date, it didn't take long for Sheldon Adelson to build the Palazzo/Venetian and the St. Regis brand that'll soon go along with it. Likewise, I think Steve Wynn has something similar up his sleeve with respect to the land his golf course currently sits on - a project that most likely will put CityCenter to shame (as if the St. Regis Residences hasn't done that already!) and outshining, out-doing, and as we say "out-high-rising" the Adelson's of the world.

While this is still just a vision, Mr. Wynn has already petitioned Clark County to rezone some former residential land, along with the Wynn Las Vegas golf course as "H-1", which means there's a good chance that him and myself think alike regarding putting that land to a more high-density use.

So do you agree? Is the Metropolis the new sleeper project in town, where you can get great foreclosure deals with the hope of a major score in the not-too-distant future? Check out these listings of bank foreclosure condo properties at Metropolis and then contact us for more information on how we can get you the best deal on whichever one (or ones) you like.

How about this one - my favorite... a bank repo 2252 square foot, 2 bedroom, 2 bath, top of the line condo unit with phenomenal views priced at $235/sf!!! (Shuusshhh... I'll bet we can get that one for you for even less than that...)

See ya, CityCenter! St. Regis Residences to Open in Las Vegas - Newest High Rise Condo Project To Provide The Ultimate in Luxury

When the Las Vegas Sands teams up with Starwood Hotel & Resorts, amazing things happen. Case in point: in a joint venture between the two, the world renowned St. Regis brand is now set to enter the Las Vegas high rise condo marketplace with 398 private luxury residences currently under construction between the Las Vegas Sands' Palazzo and Venetian resorts located right on the famed Las Vegas Strip.

This news brings this project to the forefront for all discerning high rise condo buyers searching for the ultimate in luxury, world-class amenities, and high rise life. Suffice to say, the St. Regis name alone makes this project the most compelling and exciting project in town, dwarfing even the presigious Project CityCenter in my opinion.

Here's the bottom line: quality and luxury sell in any type of financial environment. Add to that the premium location of these residences which make the St. Regis perhaps the rarest of opportunities to live the ultimate in high rise condo lifestyle in a one of a kind residence on the Strip.

When this high rise condo project opens in March 2010, the St. Regis Residences unit owners will be treated to everything that's made the St. Regis brand the finest in the world, including the signature St. Regis Butler Service, meticulously designed interiors with no detail overlooked or expense spared, the custom tailored experiences, access to luxury accommodations in the best addresses in the world, and so much more. The residences will range in size from a 1,700 square foot unit to over 10,000 square feet for a duplex villa with a private pool. Said Venetian owner Sheldon Adelson:

"The St. Regis Residences at The Venetian Palazzo, Las Vegas will provide its occupants a private, secure sanctuary combined with instant access to more than 30 world-class restaurants, two state-of-the-art spa and fitness facilities, four exciting theatres, and more than 150 premium retailers... The glamour and excitement of the Las Vegas Strip will literally be right at your doorstep -- where else in the world would residents of a high rise be able to go downstairs every night and choose between Mario Batali, Emeril Lagasse, Wolfgang Puck, Thomas Keller, or Charlie Trotter for dinner?"

And he's absolutely correct in that accessment! We are currently forming a website and an interest list for this opportunity. Prices are TBD at this point, but as you can imagine, they will not be cheap. Are you ready for the ultimate in luxury living? If so, and you have the means, perhaps you can be one of those fortunate enough to take advantage of this once in a lifetime opportunity.

Las Vegas Cosmopolitan High Rise Condo Hotel Buyers Not In Limbo Any Longer

Las Vegas has already seen it's share of high rise condo projects that have come and gone. But none have had the staying power of controversy that's been associated with the Cosmopolitan project. One day it's dead. The next day it's back on. The owners change, the financing comes and goes, the rumors persist that someone will step in and build it to completion, then the project's dead again.

No question condo unit buyers in this building have every right to feel like they're riding a very expensive roller coaster ride.

However, the latest news on this project is actually quite good as it realistically looks like this project WILL be completed and unit owners can expect to close on their condotel units in the first half of 2010. Although that date seems well into the future, we all know how quickly time flies, and if all goes as the "experts" predict, we'll be healthily out of the "down market" we still find ourselves in at the present.

Why the optimism? Deutsche Bank paid approximately $1 BILLION at a foreclosure sale and announced the Related Cos. will complete the 2,998 condo hotel development project. Normally, the words "Related" and "complete" are rarely found in the same sentence, but based on what's happening in the market these days, this can only be seen as good news.

Now, condo buyers at the Cosmo can see light at the end of the tunnel. Over 80% of the project has been sold to the tune of $1.35 billion in sales. According to sources familiar with the project, a hotel and casino operator will be announced shortly, further adding to the good vibes being generated with respect to this Las Vegas high rise Strip condo.

Finally, a reason to get involved with the Cosmo. Remember that 80% sold out stat? That only means the remaining 20 are ready for you to act on. Get our take on what you should be doing right now...

Las Vegas Palms Place High Rise Condo Studio Units Available - Owner Can't Close!!!

What does it mean when a high rise condo buyer in one of the "hippest" Las Vegas high rise condo projects can't close on their units due to an inability to obtain financing in this crazy market? It means YOU get presented with some MAJOR buying opportunities.

How about a 26th floor, 674 square foot high rise condo unit at Palms Place with a gorgeous Strip view for $653,260!?!?!

Or a 34th floor studio with views of the mountains for just $525,300.

Why so low? These prices are based on "employee discounts". If you've done your high rise condo shopping and have studied what's been going on in this Las Vegas real estate marketplace, you'd have to agree these are two sweet deals.

And the best part? For this deal, the developer (Palms Place) is actually allowing a contract assignment in this case. In other words, you - the buyer - get a contract officially assigned to you straight from the developer. No hassles or worries. Just step in and sign and it's yours.

Need I have to remind you of the dedicated concierge services available 24/7... your exclusive, toll-free number and special invites for your Inner Circle arrangements... the complimentary access to Palms Place Spa and Hammam, including a state-of-the-art fitness center... pre-sale ticket purchase notice for concerts and events at the Pearl Concert Theatre... the special invites to select events and activities at the Palms Casino Resort... the owner's only VIP check-in lounge... pre-arrival grocery shopping service... access to an in-room chef... assistance with golf course tee times... or the complimentary use of a Palms Place limousine airport service??? And we all know how spectacular the rest of the amenities that the Palms Place is associated with.

The Palms is quite an exclusive project and has been sold out for as long as I can remember. Even when fallouts happen, this project has seen success and units go fast. And it's already built and it's ready for YOU. Contact us now for more information on how you can take advantage of this Palms Place condo deal.

Bank Owned GREAT Deal in Prestigious 89113 Zip Code in Las Vegas, Nevada

... Okay, so it's not a high rise. But here's a property you have to take a look at if you're in the market for a bargain. It's a 2 bedroom, 2 bath unit with a balcony and garage located in the prestigious 89113 zip code in Las Vegas, Nevada - located right down the street from the private Spanish Trail Golf Country Club.

This property is located in a gated, plush community with three luxurious pools surrounded by palm trees and lush landscaping; private bar-b-que area, spa, clubhouse, billiards room, two story work out facility with sauna, tennis court, security; all in a prime location one block from the 215 and 10 minutes to Strip, 15 minutes to airport; less than one mile from a new state-of-the-art hospital, a block from a proposed Stations casino, across the street from gaming, walking distance to shopping, restaurants, grocery stores, nail salon, yogurt, etc.

At $99,900 - this is a bank owned property looking to make deals right now. That's not a misprint - less than $100K!!!! You couldn't possibly ask for a better deal than this. They say pictures tell the story, so have a look at these and then contact me immediately for status (it may already be gone by now).

Let Them Eat Cake Part 2: Las Vegas High Rise Condo Unit UNDER $200K!!!

What a coincidence! Yesterday, we invoked the famous Marie Antoinette's "Let them eat cake" line, and today comes news of a great Las Vegas high rise condo deal in a "Marie Antoinette" subdivision, 2 blocks from the Strip and next to the Hard Rock Resort / Casino.

This 2nd floor studio unit with a balcony overlooks the pool area - tennis, clubhouse, work-out facility, porte cachere, doorman, top security, set on acres of lush in the middle of the pulse of Las Vegas. All this for under $200K - Priced at $189,000

Here'a view from the balcony. For all you who thought high rise living close to the Strip without paying through the nose was an impossibility, now's your time to act on this rare old Vegas high rise. - or Click here for a Las Vegas luxury property UNDER $100K

Let them eat Las Vegas High Rise Condo Penthouse Cake? I don't think so!

Remember this post?

Well, that Las Vegas high rise condo penthouse unit is getting ready for foreclosure. If you want to find out about the inside deal and how you can pick this unit up for about a million dollars less, you need to contact us IMMEDIATELY.

Are Banks Now Scamming the MLS?

Speaking from a real estate agent's point of view, it's becoming more and more increasing clear that banks are manipulating the multiple listing service (MLS) into their own personal auction service. It's about time that some kind of control needs to be placed on MLS price points as a result. Here's what's happening in the Las Vegas real estate market right now:

You take a high end property in foreclosure with nice amenities (on the golf course for instance) with tons of upgrades which the bank offers for "only $50,000" on the MLS. A luxury home for a bargain, right? Ladies and gentlemen, start your offers! What a deal!

Buyers go to Realtor.com and see these low prices and think they're getting a deal. Then, when they place an offer, they immediately get a fax from the seller (bank) saying the property is in a multiple offer situation (and why not - everyone's seeing these amazing low prices), and they (the bank) now want a new offer which is the client's (buyer) "highest and best offer".

And guess what happens to the "great deal"? Can you spell SCAM? The effect is that banks are allowed to auction off their properties without actually admitting what's really going on! Now the buyers are all turned off by the rules of this new game and walk away with a bad taste in their mouth, with further distaste for the real estate agent and the bank.

Whether it's Las Vegas high rise condos or regular residential real estate, don't us real esate agents actually have to PAY for the MLS? Shouldn't we be offering real deals to clients without the pie in the sky hopes of a bank accepting some ridiculous short sale outcome that probably will never close in the first place? Should clients have to put up money that has to sit for months before banks decide to accept or reject the deal as their "best offer"?

What on Earth is happening here?

Will You Heed the Advice of Foreign Investors Regarding Las Vegas High Rise Condos?

Yes, El-Ad's project on the former Frontier property has been put on hold. But their partner Nochi Dankner doesn't seem too concerned. Danker's just recently refinanced and upped their stake in the Queensridge high rise condo project in Summerlin and also have their eyes on the Tivoli Village project next door to the tune of $850 million.

Then there's the Africa Israel group, who acquired the former "W Hotel" (and Las Ramblas for that matter) site and are in the process of moving that project forward with a whole new design at a considerable cost.

And we all know how active Dubai has become in this Las Vegas high rise condo market.

Truth is, there's a lot of foreign investment happening in Las Vegas RIGHT NOW, mostly by groups out of Israel, where top level real estate analysts say they are "unmoved" by the doom and gloom media reports we hear each day. Word on the street says planning for the Plaza project will be ready in less than a year, so bet on that project happening as hopefully the economic conditions will be a bit more positive.

Heed the words of Segi Eitan, the CEO of "Property and Building", a major holding of Nochi Dankner's IDB group:

"If you want to make money in life, you have to take risks. There's no such thing as reward without risk. Looking backward is no great trick. I remain optimistic about the success of this project... These are some of the best luxury high rise condos constructed in the city. When the storm passes, these condos will go at the speed of a missile launch."

Translation: Queensridge is a winner! Luckily for you and me, we don't have to be on the other side of the world to see what's happening right here in the Las Vegas real estate marketplace - we can get involved with just a click of the mouse!

"M" Stands for "Movement" with Las Vegas High Rise Condo Hotels

Boyd gaming may have pulled the plug on their Echelon project until the economy improves, but not all high rise projects in Las Vegas are taking that same approach. Case in point: Anthony Marnell III's $700 million "M" project is fully funded and heading on schedule towards an early 2009 opening.

The 11-story M Resort, located on the South Strip at St. Rose parkway and Las Vegas boulevard, will consist of 390 rooms and suites; 90,000 square feet of gaming; 40,000 square feet of meeting and convention facilities; a wine cellar and tasting room; a top floor lounge; 9 restuarants; and a 20,000 square foot spa along with a 2.3 acre pool and event area.

The key word in the above paragraph is "will". This project is happening despite the econmonic conditions we all read about every day.

Add to all that plans for 6,000 hotel, condo, and condotel units and more than 1 million square feet of retail and you finally have some positive news on the Las Vegas high rise marketplace for a change. At last week's "topping out" ceremony for the project, Marnell explained his project's success as follows:

“Some projects now in turmoil were started with corporate revolvers; it was assumed that financing would be available at a later date and then the market fell apart and the revolvers ran out or were running out,[forcing the projects were canceled or put on hold]. We weren’t in that position; we’re not a big corporation, we didn’t have a revolver so we needed everything in place to get started.”

Rational Vs. Irrational: What a Difference That Makes

"Irrational Exuberance" led us into the credit crunch and mortgage crisis as thousands upon thousands of irrational buyers set themselves up for foreclosure failure. Now for the good news: it will be the "Rational Exuberance" that will very slowly pull us out of this turbulent period of ‘the real estate cycle downturn.”

Buy low and Sell low should be your motto. For example: if you are holding on to a Las Vegas high-rise condo unit that you purchased in 2004 and closed in 2007 at $400 a foot, be prepared to hold on to your unit for three or four years to break even on the price point.

Did you want to hear that? Well, that's my opinion, I'm not stating any facts here. But it looks like we are in for some heavy turbulence with California throwing up thousands of more foreclosures in our laps. Add up your mortgage, insurance, HOA, and other fees and if it doesn’t pencil for you, then dump it. Don’t stress yourself out over a burden you can't afford as Suzy Orman would say.

The rational people waited for the downturn and are now picking up some crazy deals. In fact, I heard one Strip view/high-rise fully furnished over 1,700sf at Panorama went in the $500’s. If you are stressed and a buyer comes in offering you cash (plus paying everything at closing including HOA and Utilities) so that you never have to put out another dime and save your credit, my advice is well… live and learn. Perhaps look into safer investments in the future.

Learn from the rational buyers who purchase only on the downturn. Find a real estate agent who is savy and tough (and well respected). Here are guidelines that the Rational Exuberant follow:

When you request information from a knowlegable real estate agent, and the agent responds with that requested info, acknowledge the hard work - whether you are interested or not. REAL ESTATE AGENTS - THE GOOD ONES - WORK THEIR BUTTS OFF AND DESERVE RESPECT. Yes, I said "respect". Because I guarantee that during the rebound period, if you don’t treat your good, hard working Realtor with respect, you will most definitely miss the good deals. (Surprisingly, the good agents seem to know how to find them while the rest aimlessly search the MLS).

Remember, its NOT all about the deal and patients - relationship with a great agent is key. Do not get overly emotional or irrational. Follow the rules: get pre-approved, stay within your budget, and of course - be rational...

Does this statement best describe the High Rise Condo Resort Market on the Las Vegas Strip? Wait, there's Hope!

"We have decided to delay construction of our project on the Las Vegas Strip due to the difficult environment surrounding today's capital markets and the challenging economic conditions that currently exist. We expect to resume construction when credit market conditions and the overall outlook for the economy improve."

This statement, heard today from Boyd Gaming regarding their much anticipated $4.8 billion dollar Echelon project, seems to be the mantra of the times regarding high end high rise condo/resort properties on the Strip. Take just about any development right now and it seems they've all released a statement similar to the above. (except of course, Project CityCenter which is amazing). The key part of that sentence, however, is "when credit market conditions and the economy improve" - and when will that be? No one knows.

But one thing's for sure, it'll NEVER happen in Vegas again, right? That's what all the mainstream media is telling you - the Las Vegas real estate market is done, over, finished, kaput, history, old-news, 86ed... Well this is Las Vegas: Wanna bet?

Now I don't have a crystal ball, and I can't tell you with any certainty when this whole mess will "officially" turnaround, but I do know this is a problem not just centered on the Las Vegas market. Things WILL get better. I really believe Vegas will be one of the first cities to recover - I just don't know when. But sit tight folks: it's going to happen (maybe even sooner than we think)

And believe it or not, despite the down market and our current recessionary times, there are certain investment vehicles you can put your money in right now that'll provide you with low risk double digit returns which make perfect alternatives to Las Vegas high rise condo investments or investing in the real estate - safer than banks, safer than bonds, and safer than ANY government-backed instrument! (thank goodness!).

Would you like to know what they are? (name and phone number please). Perhaps an excellent investment vehicle for you to ride out the next 18 months of recovery? And I promise you this isn't a scam, get rich quick, multi-level, or any other investment scheme nonsense...

The Foreclosure Flu Epidemic is Merciless to Celebrities and Regular Folk Alike

Thanks to the uncertain nature of the real estate market, your everyday, average person seems to be having a lot more in common with celebrities than you'd imagine - and you can sum it up in one word: Foreclosure.

Celebrities after celebrities are making the news lately in a way you might not expect. Andre Agassi, Stephy Graff, Ed McMahan, Deepok Chopra, Pacman Jones … and the list goes on. Guess what folks? We're all in this mess together. It doesn’t matter if you’re a Wimbledon Champion or have a direct link to Gods ear - the Foreclosure Flu epidemic is merciless.

Respected and loved Las Vegas tennis gurus Andre Agassi and Graff's Idaho resort project, for instance, just "double faulted" as construction on his Tamarack project has basically stopped while the developers have filed for bankruptcy protection.

It's also rumored that Deepok Chopra lost his Maui shack in foreclosure. 50 Cents ‘lost’ his house to a ‘fire-sale’ type of foreclosure and national icon Ed McMahon's foreclosure problems keep mounting and mounting.

How about Latrell Sprewell, who once complained that his multi-million dollar salary wasn't enough to put food on the table for his family? He recently had his Milwaukee area home foreclosed after owing $320,284 - the home will be sold by the Sheriff's Department at auction next week. Not to mention his yacht has already been repossessed and he owes more than $70,000 to the IRS in back taxes.

Jose Canseco also had his multimillion dollar home foreclosed upon when he walked away from his $2.5 million, 7,300-square-foot home in suburban Encino because "it didn't make sense to continue making payments". Wow - something doesn't make sense to Jose Canseco!

Also, let's not forget how foreclosure is tackling Adam "Pacman" Jones, as he's defaulted on his mortgage with U.S. Bank where his home and 30 acres, located in a Nashville suburb will be sold June 27 on the steps of the County Courthouse. (let's hope he stays as far from the Las Vegas high rise condo market as possible).

Actor Michael Madsen needs $9.95 million fast to keep his luxury Malibu property, He's looking for an "expedient sale necessary" to most likely avoid losing the home to the bank.

And can we even begin to understand the mess Evander Holyfield has gotten himself into? His Atlanta estate is under foreclosure, he's defaulting on a number of loans already including a $10 million dollar bank loan as well as a $550,000 landscape loan, AND he's behind in child support payments.

Our Las Vegas foreclosures, both high rise condo and others, are about to grow as the thousands of short sales become foreclosures soon. But it's all not bad news.

I spent the day with Shari Sanderson, a Realtor® with Award Realty and was in shock (in a good way) with what I witnessed. While the majority of Realtors® are starving, she is actually "playing in the market".

The day I was with her, she opened two more escrows and wrote three offers - and the offers where so low-balled I thought…no way. Her client base is huge and her cell phone is literally off the hook as her assistants follow her around in an environment of ‘Show Me the Money’ high-energy excitement. One high-rise foreclosure that originally sold for around $700k she lowballed under $300k and it was accepted! I interviewed her throughout the day and asked her opinion about a few concerns:

• What do you think of the foreclosure issue with Tamarack and Agassi?
  First of all, ski resorts only come around, what…once every twenty years?! Last one I remember (and was involved with) was Telluride. It’s a luxury purchase - not a flip! I am a huge Agassi Family fan and was at the F/F opening. They are all heart and I am sure they are just as heartbroken over this as anyone who is experiencing the current economic shift. (She taps one of her assistants and says, “Get me a list of any distress sales in Tamarack.”)
  
  
• What do you think of all of the celebrities hit by foreclosures?
  No one is immune from what I am calling "the Foreclosure Flu". Most people will surely recover. We all need to help take care of one another and be supportive. A lot of people are angry and blame the media for the gloom and doom. I get extrememly irritated when I see reporters pull factoids from 2004 and throw it into the mix to sensationalize. BUT, the media has a responsibility to report the truth and we are in a gloom and doom position. Whether I walk into a 6,000 sf home selling for under $500k and the house is trashed or a small condo some baby boomer mortgaged their home for and lost both, I can feel the anger and frustration.
  
  At the same time, I love finding deals. I am a personal shopper of Vegas real estate and this is LAST CALL VEGAS - and I am pulling aside all of the good deals for my clients. I get a kick out of finding my friends a property at $80 a foot. Friends and clients started calling me in February 2008 asking my opinion and I suggested them waiting until the end of summer. However, I started cherry-picking some great price points for them the past month because I just don’t want anyone to miss out.
  
  
• What is your take on the economy rebounding?
  Everything in life is cyclical - love, relationships, real estate. We all know what goes up, must come down. If you have patience and wait long enough, the cycle starts all over again. Most people choose to ignore the real estate cycle and the fact we are in an election year... partied hard with irrational exuberance… shopped till we dropped… etc. - now we have to suffer the consequences. This is the time to buy - anything! I just bought a new car and so did my daughter, from Bill Collins at Desert BMW. Luxury items are less expensive.
  
  
• Where do you get all of these clients, your phone rings constantly?
  It’s all referrals. (she smiles).
  
  
  
  
  

Happy News for Las Vegas High Rise Condos and Las Vegas Real Estate

Has hell frozen over? ... Do pigs fly? ... Is today that day?

I only ask this because there's a website out there that's actually reporting good news about the real estate market! The central message of Happy Real Estate News is that there are a number of very positive real estate markets throughout the United States right now, and by focusing on some good news every once in a while, we may help speed up market recovery in other sections of the country.

Despite the constant doom and gloom stories I read every day from local and national news sources, I'm starting to see some significant movement in both the stabilization of prices and the level of investor interest, (and, are you sitting down?) even here in Las Vegas. That's right - Las Vegas real estate is really starting to move again.

And I realize you're reading this and saying to yourself, "great, another real estate agent telling me to buy real estate" ... and that's understandable. But when you read from the Las Vegas Review Journal, a source of CONSTANT real estate naysaying of all sources, that "new home sales appear to have reached the bottom of the current down cycle", perhaps it's time to finally start taking a serious look at some pretty sweet investment opportunities right here in this world-renowned town.

The nature of Las Vegas is this: during bad times, Vegas will always make the first recovery compared to the rest of the country. Could that cold day in hell be today?

Verge Las Vegas Mid-rise Condo Project Redesign Includes 52 More Units

The $135 million dollar Verge mid-rise condo project in downtown Las Vegas just announced their plans to redesign the development, adding 52 more units to it's 318 unit repetoire. If it ever happens...

You never know what's happening with Verge. Rumors continue to fly that the project's dead, then it's back to life, then it's experiencing delays, then it's moving forward strong, then there's setbacks in the development process. You almost get the sense the project should get a seat at the World Series of Poker with the way they guard their cards.

I'll take them at their word that they wouldn't be spending the extra $2 million dollars it'll cost to redesign the project if they had no intention of following through to a completed project. And if they're really taking out more of the higher-end units for more affordable inventory, then it makes this project even more of a downtown Las Vegas bargain. We'll just have to wait another 3 months or so to find out.

And, the Las Vegas High Rise Condo Answer Is:

As usual, many of you replied back and tried to guess the view regarding our latest contest.

What's amazing is the number of correct responses! It seems everyone knew the view in question was taken from atop the Streamline Tower in downtown Las Vegas, a project that's actually in the process of closing units. Seeing how this project is generating a lot of buzz recently, I thought I'd make you aware of some RSD's available right now in this building for anyone looking for high rise bargains in downtown Las Vegas.

Two listings that look extremely attractive to me are on a 1 bedroom and a 2 bedroom high rise condo unit. The prices on these units are actually about $60K LESS than the developer is offering new - so talk about a bargain. The 1 bedroom unit is on the 16th floor for $420K and the 2 bedroom is on the 11th for $600K. And if that's not enough, let me leave you with another view from atop the rooftop terrace at Streamline:


All I can say is look... breathe... imagine! Now contact me for more info on the deal.

Vegas Hot Sheet - Bank Owned Las Vegas High Rise Condo Units, Distressed Sales, and Deals

Here's the latest "Real Steal Deals" (RSD) that we've found for those of you looking for that perfect Las Vegas high rise condo bargain: (use the navigation arrows at the bottom left portion of the screen to cycle through information for each property)

Metropolis high rise condo RSDs:

- 17th floor, 1783 square foot, 2 bedroom 2 bath for $585K
- 5th floor, 2377 square foot, 3 bedroom 2 bath for $585K
- 4th floor, 2252 square foot, 2 bedroom, 2 bath for $569K
- 5th floor, 877 square foot, 1 bedroom, 1 bath for $399K

Sky Las Vegas high rise condo RSD: 13th floor, 985 square foot, 1 bedroom, 1 bath for $399K

Manhattan Midrise condo RSDs:

- 1184 square foot, 2 bedroom, 2 bath units ranging from $206K to $239K
- 1086 square foot, 2 bedroom, 2 bath units ranging from $209K to $219K
- 1134 square foot, 2 bedroom, 2 bath units ranging from $224K to $244K

Park Avenue Las Vegas condo RSDs: Way too many to mention individually, but I'm sure you'll find something you like among the 19 choices we've selected for you.

Panorama high rise condo RSDs: 1 and 2 bedroom condo units ranging from 733 to 1212 square feet and starting from a ridiculous $319K with NOTHING priced higher than $450K.

Interested in getting more Vegas Hot Sheet high rise condo information? You can subscribe to our property alert service for free and automatically be informed when we find great deals on Las Vegas high rise condo resales, distressed sales, and REO bank owned property bargains. Please contact us if you're interested in any of the properties listed above and we'll get you started.

Publishing Company Says "No Go" to Las Vegas High Rise Condo Hotel Project Name

Does the Cosmopolitan High Rise Condo project in Las Vegas need any more bad news? Of course not, its had its share of that already.

But according to the Las Vegas Review Journal, lawyers with nothing better to do have now decided that the name "Cosmopolitan" is a trademark infringement according to The Hearst Corp., publishers of the Cosmopolitan magazine. They claim the Cosmopolitan developers (whoever they are these days) are using the Cosmo name to enrich their product into deluding the public into thinking the high rise project is associated with the magazine. Perhaps the Hearst Corp hasn't been reading this blog or the Las Vegas Review Journal or the Las Vegas Sun or In Business Las Vegas or any other informational source that's been covering this project since 2004, or they would have known this high rise condo project was launched years ago with the Cosmopolitan name - you would think Hearst would have acted sooner on this. I guess their lawyers were too busy with other things until now.

In my opinion, I don't think the Hearst Corp. has anything to worry about because - as predicted when Bruce Eichner gave up control of the project - I still believe the project will be completed under a different name anyway.

On a side note, on a recent visit with a high rise condo client to the Blue Martini Lounge in Town Square, I noticed a number of people ordering "Cosmopolitans" from the bar. Good thing there were no lawyers present.

We've Done all the Las Vegas High Rise Condo Work - You Reap The Rewards

Over the past few days, we've been searching the entire Las Vegas marketplace for what we consider "real steal deals" (RSD's) and we've uncovered the following:

Here's the latest bargain condo unit at Panorama high rise condos: 11th floor, 1 bedroom, den, 1 1/2 bath, 923 square foot unit at Panorama for $415,000. Get more information here

Or if you'd prefer a high rise condo unit at Sky Las Vegas, here's one on the 13th floor - It's a spacious 1 bedroom, 1 bath, 778 square foot "never been lived in" Las Vegas strip condo facing the new Fountainbleu Resort with great city and mountain views to the east for UNDER $300,000!!!! (yeah, I know - I couldn't believe that price either).

Granted, some people don't want the Las Vegas high rise condo lifestyle but still want bargains on Las Vegas real estate. For those, may we present our list of 40 properties UNDER $200,000 that you can pick up TODAY. It may take you a while to go through this list yourself (scrolling through the arrows on the bottom left), but I assure you it's well worth your time. Have a look, then contact us to discuss.

But let's not stop there. There are a number of interesting situations over at Spanish Trails that make for great deals right now. Those who are local to Vegas know how amazing the homes at Spanish Trails are. The first residence we found is bank-owned. The second is in "The Islands", which is extremely nice with a distressed owner willing to sell this golf course residence for $325,000. There's also a Gardens residence for about $299,000 (although not on the golf course), but that price is extremely low compared to prior sales.

We've also found some other unbelievable RSD's at a variety of Las Vegas high rise / non-high rise bargains like these:

• MGM Signature high rise condo on the third floor for $299,900
• Turnberry: Very high-end, excellent residential development just off the Strip and behind the new Fontainebleau.
• Allure. Purely residential located on Sahara, approx. 1/8th block off the Strip
• Park Avenue: last two available - all others are in contract. One is bank-owned. This is located just as half block from Las Vegas Blvd South.
• Las Vegas Country Club/Bel Air High-Rise
• Regency Highrise and Panorama Highrise
• District at Green Valley

I know that's a lot of homework we just gave you. But just like high school, if you don't do your homework, you're only cheating yourself. So click on those links, find out what you like best, then contact us and we'll get it done for you. If you're seriously looking for an RSD in Las Vegas, there has to be a deal in there for you.

WSOP Website Resource Finds Las Vegas Condos and Investments for World Series of Poker Players

As most of you probably know, the World Series of Poker (WSOP) is currently being played from Thursday, May 29, 2008 to Monday, July 14, 2008 at the Rio Hotel & Casino in Las Vegas, Nevada. As most of you probably don't know, there are a few members of the Las Vegas Wealth Group in attendance at the event as well - some of whom are competing, while the top real estate members associated with the group are providing boutique-level real estate investment services specifically tailored to the tournament participants.

The group has channeled their very impressive resources into finding Las Vegas condos and Las Vegas high rise condos for some of the players at the wsop event and recently announced the publishing of their World Series of Poker real estate related website/blog called www.wsopcondos.com for players at the world series of poker.

It shouldn't surprise anyone that many WSOP poker players make repeated journeys to Las Vegas many times over the years. Poker players also have very unique requirements, both in terms of lifestyle and what they decide to call home. So why not buy a place of your own instead of paying exorbitant hotel room rates? And who better than the Las Vegas Wealth Group to consult with for the best Las Vegas condos and real estate investment opportunities for poker players? From luxury high rises, Las Vegas estate homes, to million dollar luxury residences, or even just a place to call home when you're in town, World Series of Poker players need to do something with their winnings, right?

Besides being a one-stop source for the best world series of poker Las Vegas real estate poker player, the WSOPcondos.com website features resources for poker players such as WSOP Rewards credit cards, WSOP news links, and world series of poker videos from YouTube. If you're a poker player participating in this year's World Series of Poker tournament, you owe it to yourself to visit the Las Vegas Wealth Group's WSOP website and contact them for all your Las Vegas real estate needs and beyond.

Investor Group Succeeds Again in $5.4 Million Dollar REO Package Funding

Still don't know where to invest your money these days? Perhaps you should consider applying for membership in BPVWest's REO/preconstruction syndicate investor group. I've been an affiliate of the investor group for the past couple of months now and have seen them do some amazing things already - such as buying bulk REO foreclosures from a major bank for their investors at 25 cents on the dollar. TWICE!

Here's a link to the press release announcing the successful funding of their latest REO foreclosure deal. BPVWest provides turnkey type investments, so investors in the syndicate need not worry about all the hassles associated with real estate such as tenant issues, eviction, rent collection, repairs, marketing, etc.

This group is constantly looking for more REO and preconstruction investors to join, as "the group gets stronger with every good investor they bring on board". What I like about them is that investors who apply for membership basically get qualified, so it's not like the group takes everyone. And since all the investors are qualified for a certain level of investment, when a good deal comes along, the group is able to act quickly.

Banks love that. So do high rise and condo developers, at every stage of their development from preconstruction to unit closeout. Would you like to get more information on the group? Visit their website here.

16th Floor Las Vegas High Rise Condo Hotel RSD

That's right - I have a "Real Steal Deal" (RSD) on a 16th floor, 1 bedroom, high rise condo hotel unit at the Platinum condotel which I just toured myself this morning. At the price-points that most of the condo hotels in Las Vegas are selling for, you'd be hard pressed as an investor to positive cash flow your unit out. However, there are some units at the Platinum that make me believe this is possible.


The unit I toured this morning is going for $319,000 which is an amazing price for a condo hotel in Vegas, especially on the 16th floor of the building (the 17th floor is the penthouse!) and as you can see from this video, the views you'll get are simply fabulous.

Remember, with a condo hotel, you can use your unit yourself and rent it out when you're not around with absolutely no restrictions. The Platinum already is in operation and I must say, I was very impressed with the building as a whole as well as the people staffing it. (plus I talked with a number of the guests who all were impressed with their stay).

All in all, the Platinum makes for a very interesting option for your Las Vegas high rise condo search. I'm pretty sure at the $319,000 pricepoint, this unit won't last long even in today's market, so if you're looking for a RSD, contact me today and let's get you in to see this unit for yourself!

Guess the High Rise Condo View, Part IV

It's been a while, so let's play it again. Back by popular demand, It's called "Guess the View". Can anyone tell me the name of the Las Vegas high rise condo project where this rooftop picture was taken:

As a post-script to this photo, I have to tell you I just recently toured this high rise building and found it to be outstanding! In addition to having great views of the city (as you can tell), this project has just begun to close units to those who originally reserved units 2 years ago.

What makes this project different from the rest of the high rise condo projects in town? Well, for starters, the unit owners in this project actually WANT to close and are moving ahead with their contracts. Not many Las Vegas highrise projects can say that in today's market. Secondly, the units are spacious with realistic pricing, allowing you to stake your claim to affordable Las Vegas high rise living. Need I say more?

So go ahead.. guess the view. And if you want, contact me and I'll show you an absolute RSD (real steal deal) in this building (and perhaps others?)

Investors Purchase 2.5 Million Note Package for 25 Cents on the Dollar

Remember my recent post regarding how you can buy REO Bank Foreclosures at significant discounts? The group is now looking for additional investors to take part of their next foreclosure package directly from a major bank - a $5.3 million dollar REO package at 25 cents on the dollar.

Read the press release here

As I indicated in the press release, I'm very excited about this new opportunity, especially in this down period of the real estate market. We've partnered with some great companies and I'm expecting great things - RIGHT NOW! C'mon.. don't just sit there - get involved...

Going, Going... Eichner's Gone (from the Cosmopolitan High Rise Condo Project in Las Vegas)

According to an article written by Jennifer Forsyth and published in the May 9th edition of the Wall Street Journal, Cosmopolitan "developer" Ian Bruce Eicher and representatives of Deutsche Bank were in discussions that were expected to end with Eichner surrendering all involvement with the Las Vegas high rise condo development.

As many of you know, this wouldn't be the first time this happened to him - as he was forced to give up his empty tower in New York's Times Square sixteen years ago - and most incredibly, probably won't be the last. But you have to hand it to him - It seems Eichner contributes very little of his own money in his deals, so the failure of his projects don't hit him hard in the pocketbook.

Anyway, the article does a good job of chronicling the process and the current state of affairs with respect to the Cosmo project. The good news? According to the article, there's a developer out there who seems very interested in acquiring the project out of foreclosure. The bad news? That developer is Related Cos., who has failed more times to develop high rises in Las Vegas than Charlie Brown has at kicking that football.

Buy REO Bank Foreclosures at 25 cents on the dollar

This just in: My investor group just got another REO package from a major bank consisting of $5.3 million dollars worth of foreclosed real estate properties which they are purchasing from the bank for 25 cents on the dollar. The group is looking for additional investors to take this package down which creates an amazing opportunity for those of you looking for an investment that makes sense today in these recessionary times.

Most of you are aware that we raised $2.5 million dollars from our investor base for the last bulk REO deal in just under 2 weeks, where the properties were likewise purchased at 25 cents on the dollar. This particular bank was so impressed by the urgency in which our group acted that they've come to us first for this $5.3 million dollar offering - and we have just 3 weeks to do it this time.

For those of you who missed out on the original deal, obviously time has run out and that successfully funded package is no longer available. However, our new deal will provide you with the redemption you'll need to purchase REO's at a fraction of the cost - in an environment where you couldn't possibly get anywhere close to these terms and pricing on your own.

So here's the obvious question: Why will the bank sell to our group at such a discount rather than go to individual investors? The answer is simple - the size of our group brings enormous creditibility to the table. But more importantly, we have a clearly defined EXIT STRATEGY that (like the bank) you're going to be amazed at when you hear it.

Want to invest in bulk REO properties at pennies on the dollar pricing without all the hassles of going to auctions, contacting banks, probate sales, estate sales, and all that other crap you see advertized by these "get rich quick" real estate scammers? Your window of opportunity is right now, so contact me right now for more details on how you can get involved with this package. First come, first serve ... as soon as this deal is funded, it is GONE! - and those on the sidelines will have lost out again.

Right now, it's not Hip to Be Sullivan Square - Las Vegas High Rise Condo Project Looks to be in Serious Trouble

In this corner, Glen, Smith & Glen (GSG) Development, developers of the Sullivan Square high rise condo project in Las Vegas. In the opposing corner, Harcourt Developments, a private company from Dublin, Ireland, which is financing the mixed use project to the tune of $800 million. Let the lawsuit begin!

The winner? Who knows?... The loser?: Sullivan Square condo purchasers and the entire Las Vegas high rise condo market in general.

GSG's lawsuit against Harcourt alleges breach of contract for failurre to perform funding obligations. They allege Harcourt is trying to take control of the project and build it themselves without GSG's participation.

That's a bad sign. But what's even a worse sign is that two additional lawsuits and eight liens amounting to more than $2 million have also been filed against Sullivan Square with more than $2 million owed in back payments to consultants and vendors who already have gotten Sullivan Square out of the ground. Harcourt has sent a letter to subcontractors assuring them that Sullivan Square would start vertical construction in July and everybody would be paid, even though no contract has been signed.

Developers, developers, developers... (and political candidates). Who do we believe? I believe this news signals a death toll to this project, but perhaps July will come and vertical construction will start. I've always liked this project, both design-wise and price-wise, but I'm not holding my breath at this point. Besides, with great deals on Panorama, Sky Las Vegas, Trump, and many MANY other high rise condos in Las Vegas both on the strip and downtown, let's not lose any sleep over this...

Las Vegas High Rise Condo at Sky Las Vegas Will Not Last Now That Market's Bottomed Out

Guess what folks? It looks like the Las Vegas Market finally hit rock bottom in the end of January, at least according to the April Economy in a Glance report and In Business Las Vegas. In fact, I just heard about how one real estate office in town wrote up seventeen offers during the weekend. Rumor also has it that Steve Wynn's $18M Crown Jewel estate home received a full price offer as did a The Falls in the Ridges estate at $17.5M.

Local economists are saying the cherry-picking is almost over. Yes there are thousands of foreclosures in Vegas, but word has it the banks are not giving anything more away because they realize the listings in the MLS are at an all time low compared to the past 12 months! Median home sales went UP higher than $10K - yes... HIGHER THAN $10,000!!! Gaming is up, rental rates are up and leasing is also up.

Quite frankly, I thought it would take a while longer to see these kinds of numbers, but it looks like the sun is shining again on Las Vegas real estate, the birds are singing and Vegas is going all in!

SO HERE IS A REAL STEAL DEAL... GET A SKY LAS VEGAS HIGH RISE CONDO ON THE 13TH FLOOR FOR $299,900.

If you missed out on the Panorama high rise condo unit we featured on this blog as an absolute steal, then you REALLY missed out now that Station Casinos have released their plans for the Viva Development which we highlighted a few days ago. That development is located just behind Panorama, which is obviously sitting pretty between CityCenter and Viva, smack in the middle of a five carat rock and a hot spot.

With this Sky Las Vegas real steal deal, you'll not only be a hop, skip, and a jump from the Fontainebleau, but you'll be in walking distance to Echelon Place Resort & Casino as well. 87 Acres of sheer shopping, dining, and entertainment bliss. On the site will be the Shangrii-La Hotel, Mondrian Hotel, Delano Hotel, a performing arts center, Echelon Hotel Suites Tower, 400,000 sf of shopping, 4,000 seat theater, three state-of-the-art spa facilities, renounded Chefs…

DOES THIS SOUND FAMILIAR? WHY AM I SHOUTING?!?! Because this is the same scenario I wrote about with several Panorama units we featured on this blog and our Las Vegas High Rise Condo resales website - and the Sky Las Vegas featured condo is in an even better position!

A 13th floor, Sky Las Vegas condo residence right on the strip for $299,900. Do you REALLY think you can do better than this? Of course not... so email us NOW if you'd like to snag this unit. (name and phone number please - very serious inquires only as this will definitely NOT LAST!)

Free Advice Regarding Las Vegas High Rise Condo Purchases

We live in a litigious society where lawsuits can be found everywhere. If you have the wherewithall to even consider purchasing a high rise condo in Las Vegas or anywhere else for that matter, allow me to suggest you purchase the property in the form of a corporation or LLC. There are tremendous advantages of setting up your purchase in this manner, especially in Las Vegas which is very business-setup friendly with its minimal reporting and disclosure requirements amongst a whole list of great reasons for Nevada LLC formation.

I recommend you contact Tax Specialists, Ltd, not just for buying real estate in the form of a corporation or LLC, but even if you're thinking about starting your own business or whatever business venture you're considering. I have found their educational and "hand holding" approach will provide you with the guidance you'll need to make sure you're protected in today's crazy world.

You read stories constantly of people tripping on property and suing the owner. And can you imagine the can of worms you're opening up if you're purchasing a high rise condo with the intent of renting it out!? Every time I see a purchase contract with an individual's name on it, I cringe. Real estate today needs to be purchased in the name of a Corporation or LLC - period.

The bottom line is that owning property and/or doing business in the form of a corporation or LLC can help protect your personal assets from frivolous lawsuits and unscrupulous creditors. Don't be subject to creditor attacks on your real estate or business. Visit the Tax Specialists, Ltd. website today at www.taxlv.com for more information on how incorporation can work for you.

Dam the Economy! - Full High Rise Development Ahead!

In a time when most developers are afraid to move forward with even the smallest project, Frank and Lorenzo Fertitta - perhaps the 2 most forward-thinking businessmen in Las Vegas - are actually accelerating their plans to build an high rise resort project in Las Vegas that'll be even larger than CityCenter!

So while most low-paid Review Journal and Las Vegas Sun writers, along with salaried 40-hours per week economic experts continue to write about how bad Las Vegas is, the BILLIONAIRE Fertitta brothers are betting big with plans to redevelop the 110-acre site of the Wild Wild West on Trop and the I-15 at a cost of $10 billion dollars.

Hmmm... who should we look to for an accurate read on the future of Las Vegas? I think building a 14-casino empire in 13 years should account for something. The Fertitta's understand Las Vegas will withstand the test of time. Deep down, I think we all believe that. Sometimes we just need the big boys to step up and remind us of that fact. Said Frank Fertitta:

"It's very hard to predict cycles in the short run and know what's going to happen in the next six months or the next year... we've always placed our bets in over a 5 to 10 year time horizon.. When you have a solid strategy and look at the supply-demand dynamics in the Las Vegas Valley, the fact is the population is going to continue to grow over the next 10 years and there are limited places to build ... Ours is really a strategic plan over the long run rather than trying to time the market in the short run".

Sound familiar? We've been saying that all along. Find that deal and act on it... And by the way, the Review Journal today reported that home sales in Las Vegas are finally starting to show signs of life.

Still No Progress on Verge Downtown Mid Rise Condo Project - But Is That Really Bad News?

If you read Tony Illia's latest article published by the Las Vegas Business Press, you'll arrive at the conclusion that it doesn't look good for the Verge mid-rise mixed use project in Downtown Las Vegas. We've been following this condo development closely and with an original breakground date set for summer of 2007 with nothing ever happening, we believe their should be some doubt at this point as to whether this project will ever come to fruition.

Their next contractor will be their third, their sales and marketing representative filed for Chapter 11 bankruptcy in 2007, and the City of Las Vegas has confirmed that no construction permits have yet been issued. However, I spoke directly to Verge President Darren Dunckel recently who informed me that issues with the overhead power, cable, and telephone lines are the only obstacles standing in their way and he has every hope of seeing the project through. By the way - quite honestly - I barely know Darren Dunckel and I got through to him with one phone call!

Here's what I've discovered: With all of the turmoil in the sub-prime market, and many builders walking away from future projects in Las Vegas, the developers of Verge Living have been negotiating discounted construction costs, which at this point should seem to be an obvious strategy. Remember billionaires such as Nochi Dankner (IDB) and James Packer (Crown) have followed the same strategy as the Verge "delay", and not cancelling projects as the mainstream media reports otherwise. (Remember the report on the cancelling of the Plaza Las Vegas project which was totally untrue and reported without ever consulting the project developers!). The fact of the matter is that we are in a recession fueled by an unintelligent (and perhaps irresponsible) media whose livelihood depends on sensationalizing and harming the defenseless.

Many Verge buyers I've spoken to don't seem to even mind the delays and actually are relieved to "ride out the tight credit storm" and feel "the more time, the better."

So is this project a long shot at this point? We'll just have to wait and see. Downtown Las Vegas is just screaming for product and revitalization is well underway with a tremendous amount of movement and projects. You'd be wise to visit the Downtown Las Vegas Coalition website to understand how projects like Verge may still happen despite all the obstacles they're currently facing.

One Las Vegas Unit Owners - I Have A Buyer For Your Las Vegas High Rise Condo

A client contacted me yesterday specifically regarding the One Las Vegas high rise condo project, where he wants to purchase a resale unit right now. Any One unit owners out there that want to sell? Problems closing? Please contact me ASAP and perhaps we can help you out very quickly.

Real Steals on Las Vegas High Rise Condos Are Out There - Wait for Them!

Buyers for Las Vegas high rise condos are continuing to wait for the real estate market to drop and hit bottom - and you know what? They are right to do just that! This market still seems to be on a downward spiral and I'm encouraging buyers to now "sit tight" unless a REAL STEAL of a deal comes along.

How do you recognize a real steal of a deal? (RSD) Well... if a condo at the Panorama high rise project is listed at $300K, it's a real steal deal - especially since that's just the listed price (you'll probably be able to get it under that amount! Interested?).

Buying a high rise condo at a $100K discount that is already 12 to 24 months old is a REAL STEAL DEAL! Think about it: do you think the developers could build a high rise with the intention of selling each unit for $299K? Do you think the developers could even cover their construction costs by selling beautiful units such as these at those prices? NO WAY!

If you have champagne taste and can only afford beer, there are situations developing in this market that are perfect for you. Remember, despite what you read in the paper, there are still 40 cranes in the sky, there's million dollar construction going on, and 100,000 jobs are on their way. Continue to read this blog or subscribe to our deal service for the lastest RSD's we come across.

According to R.Keith Schwer of the Clark County Economic Research team:

"The difficulties of getting housing back on its feet will not come quickly. Indeed, it is possible that we may not experience much of a recession or depression, but the subsequent recovery may not be much either. The new Strip properties in 2009, however will likely be robust enough to push the local economy into the next expansion phase, regardless of the drag in 2008."

So if you're not getting a RSD, then just sit tight, wait it out, and don't buy anything unless the deal is a steal. Good times await!

Talk About A Killer Deal on a Las Vegas High Rise Condo

Sorry for the lack of posts over the past few days, but we've just been swamped showing some of the latest deals we've uncovered on Las Vegas high rise condo buying opportunities. Here's the latest that'll probably go tomorrow:

A 1200 square foot, 2 bedroom 2 bath, 10th floor Panorama high rise condo unit with Strip views going for $525,000. (that's $433 per square foot!). Compare that to CityCenter prices - which is right across the street with a bridge connecting the two projects - where they're averaging about $1,200!

Tremendous unit (never been lived in), tremendous amenities, tremendous opportunity. Who wants it?

And if you haven't signed up for our free property alert service, don't wait any longer...

High Rise Condo Investment Portfolio Available for Institutional Investors, Large Investment Groups, or REITS

My office has been made privy to an investment package consisting of 103 Las Vegas high rise condo units that are currently in foreclosure/short-sale status. The package includes lofts, 1 bedrooms, 2 bedrooms and penthouses in a variety of very high profile Las Vegas Strip high rises.

Today's total market value of this portfolio according to the bank is just under $65 million dollars and they are offering the entire package ideally to institutional investors, large investment groups, and REITS for $42 million, which translates into almost a 36% discount to market for a large portfolio of Las Vegas high rise condo units.

Obviously not for the small time investor... (we've got deals for you as well). But any takers? Please direct any questions or comments via email here. (name and phone number please)

"Investing in Las Vegas High Rise Condos Right Now is So Risky"

How many times have I heard that one? Or its sister comment: "I'm waiting for the market to bottom out. It's way too risky right now". Perhaps those quotes are true. Maybe it's better to invest in more solid and safe investments than Las Vegas high rise condos... say, perhaps.... Bear Stearns?

Bear Stearns was always viewed upon as "as solid an investment you can get". Yet Bear Stearns, once the country's fifth-largest investment bank, agreed Sunday to be sold for just $2 a share, down 93% from its closing price Friday making millionaires out of billionaires and sending smaller-time investors to the poorhouse overnight. Can Merrill Lynch, Fidelity, etc. be far behind? How does Las Vegas real estate sound to you now?

Look... there's no question if the economy right now were a car, it would have its red flashers on. Where are you going to put your money these days? You can't invest in real estate... you definitely can't invest in the stock market... we all know cash is king but each and every day the dollar gets devalued so you can't keep your money in the bank... What's an investor to do?!?!?

If you're an accredited investor, I think I've found the answer for you. You need to follow this link and fill out the form and I'll send you info on a very unique and high-yielding investment you can get into today that'll perhaps solve all your investing worries. Not accredited? We have a high-yielding answer for you as well...

Remember the Failed Hard Rock Las Vegas High Rise Condo Project? Let the Lawsuits Begin!

A group of real estate brokers have joined forces to sue former Hard Rock high rise condo developer Peter Morton for cancelling his $1 billion dollar condo project back in 2006. Alleging breach of contract and fraud, Coldwell Banker Premier Realty and two other California brokers are claiming Morton is required to pay millions of dollars worth of commissions for the almost 2000 reservations he claimed to have had when he sold his Hard Rock interests including approximately $800 million in sales reservations. The plaintiffs claim they had between 160 and 170 buyers for the high rise condo project.

Let's see... 3% on each of those sales (where unit prices started in the $400K and went into the high millions) amounts to some pretty hefty commissions. But whether they're entitled to those commissions obviously remains to be seen. Of course, both lawyers say they're "confident we will prevail in the case" and I have no idea as to how this will be resolved. My only question is: what took so long? Unfortunately, justice is not swift all the time and insiders say no trial date is set - we'll probably have to wait at least nine months before this case moves forward.

And by that time, we'll probably have a healthy Las Vegas high rise condo marketplace again so brokers no longer have to sue developers to make their money and developers don't have to cancel projects that may put them in the poor house.

Why Buy Las Vegas High Rise Condos Now? Here's Why...

Dan Kadlec recently wrote an excellent article in last month's Time magazine urging real estate investors of one thing: IGNORE THE HEADLINES! And with the constant negative reporting surrounding all forms of media (after all, fear sells), ignoring headlines is very difficult to do. If you're sitting on the sidelines twittling your thumbs before making any real estate purchases, the question at this point really becomes, what are you waiting for?

Can you factor out all the negativity and see the amazing purchasing opportunities that others may be too scared to act upon? When prices are falling, few investors have the discipline to buy real estate - but history has proven time and time again that those who do excel in the long term. John D. Rockefeller once said "The way to make money is to buy when blood is running in the streets." And with constant talk of the "R" word, the streets certainly appear red these days. However, the Fed is currently cutting rates faster than a Nolan Ryan fastball, which usually is a positive indicator that a recovery is in sight (or maybe even happening right now).

Do you have cash right now and good credit? Do you have a long term investment plan and are waiting for the perfect time to pounce on a market poised for significant growth? If so, then do you realize how good you have it? Now's the time to act before the inevitable rise in interest rates erases the short window of buying power advantages available to you today. It won't be there if you wait for that untimeable "market bottom" (that perhaps has already happened - we just don't know). Listen to what Lending Tree chief economist Jim Svinth said:

"The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher... Anything you gain by a further drop in prices might be offset by rising financing costs."

Translation: WHAT ARE YOU WAITING FOR? Why buy now? Here's why: financing costs will rise as the economy recovers, so trying to time real estate might not pay off. In fact, at this point, it certainly will not.

Risks always seem the highest when the media headlines are frightening. But that's exactly when it's time to act by adopting a long-term, steady, and diversified real estate acquisition strategy.

57th Floor Trump Las Vegas Studio for Just $650K? No Way!

Yes, way!

Folks, here's perhaps the best deal you'll possibly find at Trump Las Vegas. I have access to a 57th floor Studio condo that you can now buy for a bargain basement price of just $650,000. Yes, that's the 57th floor. Yes, that's at Trump Tower. Yes, that is the best price you'll find anywhere. In fact, I have TWO of these 57th floor units available right now at that price - first come, first serve.

Now, I understand there are many of you would-be condo buyers waiting to see what may happen in the Las Vegas high rise condo resale market. But like previous posts regarding deals at Panorama, $650K for a 57th floor Trump unit WILL NOT be beat.

Try to offer $650K for a studio unit at the Trump salesoffice and watch them laugh you out of the building. This is YOUR chance at getting the last laugh on them instead.